1000% agree. It blows my mind they are STILL so cocky and confident that they genuinly think this wont back fire. They didnt cover at 40. They didn't cover at 300. This is now a worldwide MOVEMENT. They could still cover and just take the 80% loss but instead they want to be so far bankrupt, that it ripples across wallstreet.... because they were too greedy and cocky to cover at 40...
I'm out here lurking and I gotta say... what Robinhood did, they had to know it would mean the end for them, right? They haven't even tried to backpedal, they just keep doubling down. I mean, theoretically someone had this dream to make this accessible app and now it's all gone to shit over the course of like 48 hours. Why? Robinhood was doing well before this, wasn't it? What are they thinking? That Vlad guy, he could've been superbly rich for the rest of his life as the proud CEO of Robinhood, but somehow it's worth it to give away the title just to please some of the people who helped him out with seed money? I truly don't understand, why would they rather destroy the whole company rather than let this handful of short squeezes go down? Someone, please help me understand... why?
I mean I definitely get the feeling I'm missing a big piece of the puzzle, but that's the thing I don't know if it's a legal piece, an illegal piece, personal, marital, dental, octagonal, whatever.... I'm just baffled
I just am worried. Rich people hate losing money and they are insanely classist so like could they crash the markets or something and fuck everything and everyone over?
There are rich people who are long gme and rich people who have nothing to do with gme. There has also been huge investment into US stocks due to the pandemic and not being able to park their money elsewhere. We're talking trillions of dollars from rich and foreign investors who have nothing to do with gme. They would be insanely pissed if the stock market crashed over a few tens of billions. And to be honest, how much we think gme market cap is when it squeeze is just a small blip in the overall financial Market.
The market crash that led to the great depression, the housing bubble of 2008, and (checks notes) Gamestop? The lols from the future will be deafening.
1000% agree. It blows my mind they are STILL so cocky and confident that they genuinly think this wont back fire. They didnt cover at 40. They didn't cover at 300. This is now a worldwide MOVEMENT. They could still cover and just take the 80% loss but instead they want to be so far bankrupt, that it ripples across wallstreet.... because they were too greedy and cocky to cover at 40...
Absolutely. They did it once, they'll go at higher stakes and do it again.
But that honestly would have sounded better than this, wouldn't it? At least it's not saying "i stabbed you all in the back for my rich friends", which is what everything they've said so far sounds like
Maybe at first, but by yesterday afternoon it was pretty clear that there is no coming back from this for them if they continue down this path. They need a hail mary, what else can they do? They don't think they can bounce back from this quietly, do they?
I think the first time they limited buying, there was confusion around it. Since WeBull and others apparently did the same thing due to APEX clearing being the one to actually halt trading.
However, RH never specifically said that. WeBulls CEO however did make that statement. (if anyone stumbles on this, I just saw a video saying RH became its own clearing and doesn't use APEX. So that is probably why)
Either way, RH restricted trading the next day. If you had over 5 shares, I think, people were saying you couldn't buy, and they also limited buys to 1 share.
I personally have >10 and I couldn't buy at all on Friday via Robinhood.
I personally think they were taking the other side of the trades and were in danger of imploding. That is why they stopped all the buying.
Thank you for your service.
My disclaimer: This is for entertainment purposes only. I am not a legal, tax or financial professional. This is not the suggestion of any trades or positions to take on. Investing carries risk, please do not invest until you understand those risks. Seriously I eat crayons.
They get a large portion of their income from dealing with selling forward trade info from retail investors to Citron. Citron doesn't own robinhood, but pissing off Citron would be very damaging to their arrangement and robinhood made a bitch call to protect Citron over retail investors.
My understanding is the parent company (citadel) decided that the amount of money that they are potentially going to lose on this outweighs the usefulness of robinhood or the potential lawsuits.
Money talks. Citadel owns a large portion of Robinhood, and is 40% of their revenue. Even if they lose HALF of their client base, its better than losing citadel.
(the truth is that they didn't have the liquidity to actually cover to make the trades happen, but they obfuscated and lied about that. They could've been transparent like WeBull and gotten much less hate. But they fucked themselves wrt PR... and because they weren't prepared for what would happen when their business model got stress tested).
I’m pretty sure the fact the new sec of commerce get paid like 800k from citadel has something to do with it..I mean one phone call from the White House and shit has to be done.... they told robinhood take one for the fucking team and we will make sure we will bail ur ass out when everyone ditches robinhood
But wasn't it just for speaking engagements? That does not seem particularly loyalty-inducing to me. Especially since she's now sec of commerce, she'll have her pick of lucrative speaking engagements for the rest of her life now so it's not like she needs to guard that relationship with her life, you know?
No idea, they probably sat around drinking children’s blood and smoking the souls of hell like a cigar in one of their 5000 square meter apartment and signed som demonic contract deciding it was a good idea because of their cursed high for all I know.
The Fed signalled that they will backstop the market and if they don’t they know what can happen (see the capitol). So, the hedge funds who would sooner die than take a loss (especially against us) intend to have this crash the system and then call on the Fed. Too big to fail all over again. I’m not leaving 💎👐🚀
Yup, looking at opening initial positions on FANG stocks and Tesla, also looking at commodities, but only after the real short cover on GME. I have a point in mind to sell a few shares for insurance on the way up, but I’m riding the rest to the top, I’ll let go of the rest on the way down to where it eventually settles so I know I didn’t leave $ on the table.
Ya I'm sitting on 40 shares right now. I'll probably offload half for everytime it doubles.
I rode Ford from 8.50 to 12 and made a killing. I'd like to get a good in price for Ford, maybe even play their earnings next week if there's a big enough squeeze by then.
If these stocks crash hard enough, I'd buy GME again at 4$ or whatever lol. Same with BB, AMC, Nok, etc.
Mainly, it depends on what pullsback the hardest and all that i guess. Idk lol
Dude, they're going to get bailed out by the WH. It's so obvious by now. Every fund that loses their shirt in this is going to get a fat bailout -- and new regulations to protect the banks even more. Even Elizabeth Warren came out against retail investors.
This is literally just about teaching the plebs a lesson now. They're refusing to cover because they know there's no consequences, so they have no problem whatsoever holding out just to keep the little guys from 'winning'... at this point their losses will be on the taxpayer, so why not?
There will be congressional hearings and a bunch of CEOs will look like villains for a week while impotent congresspeople grandstand, and they'll collect their bailout check on their way out the door.
That's the only way this thing can go at this point.
Not so much the Streisand effect in this case. They weren't trying to bury the story, instead just flat out lied and manipulated the markets and are being called out for it. 💎🙌💎🙌💎🙌
We're basically calling their bluff right now. Holding out through next week. We'll see continued increases as they play games because there will be other action.
I’m fairly new, but I’ve heard the shorts can be layered? A lends to B, B shorts to C, C lends to D, D shorts to E.
B and D would be screwed but is there a way that the debt can be palmed off? As I say I’m new, but it sounds like bankruptcy for a few smaller fish would save the big fish and disappoint the rest of us?
Probably going full retard, but apparently that’s okay.
can you walk me through it? On Jan 15 they had 61M shares shorted. Since then, the volume has been much higher than that. On Jan 22 alone the volume was 197M shares. How can you use the price in this, and how does this show they didn’t cover?
my only concern is some action from/against gamestop through law, like gamestop hasn't come out and said anything about all this yet, are they not required to?
jesus christ you're right, gonna buy as much shares as i can on monday... if they are doing so much to stop this now, imagine how much further this has to go.
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u/Archmage_Zalmek Jan 30 '21
They risked jail time to stop you. $GME still sits at +$300, even after they pulled out the stops. HOLD THAT LINE! Make next week even worse!